OPPJ vs. JPAN

Last updated Jun 24, 2026

OPPJ (WisdomTree Japan Opportunities ETF) and JPAN (Matthews Japan Active ETF) are both Japan Equities funds. OPPJ is passively managed, while JPAN is actively managed. Over the past year, OPPJ returned 63.54% vs 32.46% for JPAN. A 0.68 correlation means they provide meaningful diversification when combined. OPPJ charges 0.58%/yr vs 0.79%/yr for JPAN.

Performance

OPPJ vs. JPAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Opportunities ETF (OPPJ) and Matthews Japan Active ETF (JPAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPPJ achieves a 26.34% return, which is significantly higher than JPAN's 17.24% return.

OPPJ

• 1D: -4.11%
• 1M: 0.60%
• YTD: 26.34%
• 6M: 27.22%
• 1Y: 63.54%
• 3Y*: 34.64%
• 5Y*: 25.28%
• 10Y*: 18.38%

JPAN

• 1D: -3.95%
• 1M: 1.40%
• YTD: 17.24%
• 6M: 16.10%
• 1Y: 32.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

OPPJ vs. JPAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OPPJ WisdomTree Japan Opportunities ETF	26.34%	37.08%	20.70%	4.68%
JPAN Matthews Japan Active ETF	17.24%	22.96%	18.16%	5.17%

Correlation

The correlation between OPPJ and JPAN is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.68

The correlation between OPPJ and JPAN has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

OPPJ vs. JPAN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OPPJ

OPPJ Risk / Return Rank: 91
OPPJ Sharpe Ratio Rank: 92
OPPJ Sortino Ratio Rank: 90
OPPJ Omega Ratio Rank: 87
OPPJ Calmar Ratio Rank: 94
OPPJ Martin Ratio Rank: 92

JPAN

JPAN Risk / Return Rank: 49
JPAN Sharpe Ratio Rank: 50
JPAN Sortino Ratio Rank: 49
JPAN Omega Ratio Rank: 50
JPAN Calmar Ratio Rank: 49
JPAN Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OPPJ vs. JPAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Opportunities ETF (OPPJ) and Matthews Japan Active ETF (JPAN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	OPPJ	JPAN	Difference
Sharpe ratio: Return per unit of total volatility	3.09	1.58	+1.51
Sortino ratio: Return per unit of downside risk	3.95	2.26	+1.69
Omega ratio: Gain probability vs. loss probability	1.51	1.29	+0.21
Calmar ratio: Return relative to maximum drawdown	6.50	2.23	+4.27
Martin ratio: Return relative to average drawdown	21.87	7.90	+13.96

OPPJ vs. JPAN - Sharpe Ratio Comparison

The current OPPJ Sharpe Ratio is 3.09, which is higher than the JPAN Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of OPPJ and JPAN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OPPJ vs. JPAN - Drawdown Comparison

The maximum OPPJ drawdown since its inception was -39.30%, which is greater than JPAN's maximum drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for OPPJ and JPAN.

Drawdown Indicators

	OPPJ	JPAN	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-15.24%	-24.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-14.59%	+4.77%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	—	—
Current Drawdown Current decline from peak	-4.13%	-3.95%	-0.18%
Average Drawdown Average peak-to-trough decline	-6.48%	-3.09%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	4.12%	-1.20%

Volatility

OPPJ vs. JPAN - Volatility Comparison

WisdomTree Japan Opportunities ETF (OPPJ) and Matthews Japan Active ETF (JPAN) have volatilities of 7.39% and 7.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPJ	JPAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	7.60%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	16.54%	17.06%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	20.67%	20.60%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.25%	19.53%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	19.53%	+0.06%

OPPJ vs. JPAN - Expense Ratio Comparison

OPPJ has a 0.58% expense ratio, which is lower than JPAN's 0.79% expense ratio.

Dividends

OPPJ vs. JPAN - Dividend Comparison

OPPJ's dividend yield for the trailing twelve months is around 1.50%, less than JPAN's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPAN Matthews Japan Active ETF	4.35%	5.10%	1.53%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OPPJ WisdomTree Japan Opportunities ETF	1.50%	1.78%	4.02%	2.71%	2.63%	2.96%	3.04%	2.17%	2.06%	1.53%	1.66%	3.61%

Frequently Asked Questions

Can I hold both OPPJ and JPAN in my portfolio?

OPPJ and JPAN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPPJ or JPAN?

JPAN has higher volatility (7.60%) compared to OPPJ (7.39%). In terms of maximum drawdown, OPPJ dropped -39.30% vs JPAN's -15.24%.

Which ETF is better, OPPJ or JPAN?

On 1-year performance, OPPJ leads with 63.54% vs 32.46% for JPAN. On fees, OPPJ is cheaper at 0.58% per year. On volatility, OPPJ has been the lower-risk option at 7.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPPJ or JPAN?

Over the 1-year period, OPPJ has performed better with a 63.54% return vs 32.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPPJ or JPAN?

OPPJ is cheaper with a 0.58% expense ratio, compared with 0.79% for JPAN.

Which ETF pays a higher dividend yield, OPPJ or JPAN?

JPAN has the higher dividend yield at 4.35%, compared with 1.50% for OPPJ.

What is the main difference between OPPJ and JPAN?

They also come from different issuers: WisdomTree and Matthews. Their fees differ too: 0.58% for OPPJ and 0.79% for JPAN.

Which has better risk-adjusted returns?

OPPJ currently has the higher Sharpe Ratio (3.09 vs 1.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.